Tamilnad Mercantile Bank’s MD targets pan-India presence
28 October 2024
As on March 31, the bank’s GNPA ratio was 1.39%, lower than 1.69% a year ago, while the net NPA ratio was 0.62% as against 0.95% in the previous fiscal.
Tamilnad Mercantile Bank (TMB) is aiming to maintain below 2% gross non-performing asset ratio (GNPA) and sub-1% net NPA ratio during the current financial year, its MD & CEO S Krishnan told FE in an interaction. As on March 31, the bank’s GNPA ratio was 1.39%, lower than 1.69% a year ago, while the net NPA ratio was 0.62% as against 0.95% in the previous fiscal.
“If we look at asset quality it is one of the best with gross NPA of 1.39% and net NPA of just 0.62%, slippage ratio of 0.82% and credit cost of 0.4%…Gross NPAs will continue to be less than 2% and net NPA less than 1%. Coming to the credit cost, it should be ranging between 0.5%-0.75%, and slippage ratio will be less than 1%,” he. The Thoothukudi-headquartered private lender on Monday reported an 11% year-on-year rise in its net profit for the quarter ended March at Rs 253 crore.
As on March 31, the bank’s GNPA ratio was 1.39%, lower than 1.69% a year ago, while the net NPA ratio was 0.62% as against 0.95% in the previous fiscal. Tamilnad Mercantile Bank (TMB) is aiming to maintain below 2% gross non-performing asset ratio (GNPA) and sub-1% net NPA ratio during the current financial year, its MD & CEO S Krishnan told FE in an interaction. As on March 31, the bank’s GNPA ratio was 1.39%, lower than 1.69% a year ago, while the net NPA ratio was 0.62% as against 0.95% in the previous fiscal. “If we look at asset quality it is one of the best with gross NPA of 1.39% and net NPA of just 0.62%, slippage ratio of 0.82% and credit cost of 0.4%…Gross NPAs will continue to be less than 2% and net NPA less than 1%. Coming to the credit cost, it should be ranging between 0.5%-0.75%, and slippage ratio will be less than 1%,” he. The Thoothukudi-headquartered private lender on Monday reported an 11% year-on-year rise in its net profit for the quarter ended March at Rs 253 crore.
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